SCHATZ: Front-end EUR Ranges Contained Ahead Of Tomorrow's PMIs
Oct-23 10:06
The EUR front-end has traded in a relatively contained range through this week, with focus still on tomorrow’s October flash PMIs. Last Friday’s lows have limited downside in ERU6 and Z6 futures on several occasions over the last four sessions.
- Accordingly, Monday’s 107.175 low has provided a floor in Schatz futures for now (currently -2 ticks at 107.180).
- Our technical analyst notes that the trend in Schatz futures remains bullish, with initial support at 107.150 (Oct 15 low). A deeper pullback would expose the 20-day EMA at 107.117.
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